If your West Village co-op or condo rises above six stories, FISP is not optional. It is a recurring line item that can impact reserves, assessments, and even your timeline for sales or refinancing. You want a clear plan that covers costs, timing, and risk so you avoid surprise penalties and long scaffold stays. Below is a practical roadmap focused on West Village realities so you can budget with confidence. Let’s dive in.
FISP basics you need to know
FISP requires a critical exterior inspection every five years for buildings taller than six stories. A Qualified Exterior Wall Inspector files a technical report that classifies conditions as Safe, SWARMP, or Unsafe, and unsafe items must be corrected quickly. You can review the program’s core requirements on the NYC Department of Buildings pages for façade filing requirements and FISP instructions (DOB overview, filing instructions).
Cycle timing matters. Cycle 9 closed on February 20, 2025, and Cycle 10 is next. If your building missed a prior cycle, DOB guidance says to file as soon as possible in the open cycle. Confirm your cycle and subcycle on the DOB façade filings page (Cycle lookup).
If your report finds Unsafe conditions, the owner must install public protection and complete repairs within set time frames, then file an amended report. Late filings and delayed corrections trigger escalating penalties (fees and penalties).
West Village factors that change your budget
Many West Village buildings sit in the Greenwich Village historic district or are individually landmarked. Exterior work in these areas often requires Landmarks Preservation Commission review, which can add documentation, specialized materials, and time. Learn what permit type your scope may need on LPC’s permits and alterations page (LPC permits).
Access can be tricky here. Narrow streets, trees, tight setbacks, and proximity to neighbors raise the cost of drops, scaffolds, and sidewalk sheds. Those sheds can also linger if repairs expand after demolition. The City has highlighted significant business impacts from long-standing sheds, which is a good reminder to factor monthly shed charges and schedule pressure into your plan (Mayor’s study on shed impacts).
Your three cost buckets
1) Professional inspection and filings Expect low-to-mid thousands for a QEWI inspection and report on smaller buildings. Some providers price per drop, and totals often fall in the 1,500 to 10,000 dollar range depending on size and access. DOB filing fees are modest, but late or amended filings can add up, so plan to submit on time (inspection cost guidance, fees and penalties).
2) Access and public protection Sidewalk sheds and scaffolding are common for both inspections and repairs. Monthly rental, permitting, and insurance can be material, especially on longer projects. Because West Village logistics can extend durations, include a realistic shed carry cost in your budget and build schedule buffers to avoid drift (shed impact context).
3) Repair and restoration Repair scope is the biggest variable. As a starting guide, masonry repointing in the NYC area often ranges about 8 to 25 dollars per square foot, while localized parapet or lintel work can land in the low thousands. Larger restorations and structural work can reach six figures on medium buildings, especially with historic materials or intricate cornices (unit cost examples).
Penalty risk If work slips, fines can accrue monthly for late filings and uncorrected unsafe or past SWARMP conditions. Extended shed durations may trigger additional surcharges. Build a contingency so delays do not blow the budget (fees and penalties).
Smart budgeting steps for boards
- Confirm your FISP cycle and put deadlines on the calendar. Avoid late filing penalties by planning backward from the due date.
- Commission or update a capital plan so façade work is a planned expense, not an emergency. A current plan helps you set annual reserve targets.
- Engage a QEWI early and discuss the likely number of scaffold drops, access constraints, and reporting needs. Combine inspection drops where possible to reduce repeat mobilizations (inspection guidance).
- If your building is landmarked or within a district, connect with LPC or a preservation consultant early. Even staff-level approvals can add documentation and time (LPC permits).
- Get multiple repair bids with clear unit prices and access assumptions. Include a design and permit allowance and use a 10 to 25 percent contingency for concealed conditions.
Funding options that work in NYC
- Use reserves when available. Strong reserves smooth out recurring FISP work and reduce emergency assessments.
- Levy a special assessment for defined projects so costs are shared, with a clear scope and timeline to maintain trust.
- Consider building loans or a line of credit to spread a large restoration over time. Lenders value a documented plan and adequate reserves (reserve and funding practices).
- Explore grants or low-interest loans for eligible historic properties. Programs are limited but can help close a gap, especially for landmarked buildings (historic property funding).
Sample 6 to 12 month timeline
- 6 to 12 months out
- Verify your DOB cycle window and place a FISP line item in the upcoming budget. Start owner communications about potential costs and timing.
- 3 to 6 months out
- Hire a QEWI and plan access. If LPC is likely, define the permit path and required documentation early.
- During the inspection
- Complete visual and hands-on drops, and collect photos of SWARMP and Unsafe items for scoping and bids.
- After the report
- If directed, install public protection. Bid the repairs, secure approvals, and schedule work. File the amended report when complete to close out.
West Village watch-outs
- Landmark review can add 10 to 30 percent or more in design and schedule sensitivity due to historic materials and approvals. Start early and budget for professional documentation.
- Access is often the hidden driver. Narrow sidewalks and trees can push scaffold complexity and rental durations higher than generic estimates.
- Sheds carry monthly costs and community impacts. A tight schedule and responsive contractor oversight help shorten durations.
The bottom line
Build your plan around three buckets: professional fees, access and protection, and repairs. Confirm the cycle date, scope the inspection early, and model multiple repair scenarios. Pair a realistic schedule with the right funding mix, then add contingency for unknowns and potential penalties. This approach keeps your West Village building compliant while protecting your reserves and marketability.
Ready to map your FISP plan to your ownership goals, sale timing, or purchase strategy in the West Village? Reach out to Cody Parker Hellberg for local, board-savvy guidance tailored to your building and timeline.
FAQs
Who pays for FISP in a West Village co-op or condo?
- The legal owner pays, which is the cooperative corporation for co-ops and the condominium association for condos; boards typically fund through reserves, assessments, or loans.
What are typical inspection and report costs for FISP?
- Small to medium buildings often see totals in the low-to-mid thousands, with some providers pricing per scaffold drop plus report preparation.
How do penalties affect a FISP budget if repairs are delayed?
- Late filings and uncorrected unsafe or past SWARMP conditions accrue escalating monthly fines, and long shed durations can add surcharges.
Does landmark status in the West Village add time and cost to façade work?
- Yes, LPC approvals can require additional documentation, historic-sensitive materials, and specialized professionals, which extends schedules and raises fees.
What repair ranges should a board expect before bidding?
- Repointing is often about 8 to 25 dollars per square foot as a starting guide, with localized repairs in the low thousands and larger restorations reaching six figures depending on scope and access.
